UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
FORM N-Q
QUARTERLY SCHEDULE OF PORTFOLIO HOLDINGS
OF REGISTERED MANAGEMENT INVESTMENT COMPANY
811-23264
Investment Company Act file number
Altaba Inc.
(Exact name of registrant as specified in charter)
140 East 45th Street, 15th Floor
New York, New York 10017
(Address of principal executive offices) (Zip code)
Arthur Chong
Altaba Inc.
140 East 45th Street, 15th Floor
New York, New York 10017
(Name and address of agent for service)
(646) 679-2000
Registrants telephone number, including area code
Date of fiscal year end: December 31, 2018
Date of reporting period: September 30, 2018
Item 1. Schedule of Investments.
Altaba Inc.
Consolidated Schedule of Investments
As of September 30, 2018 (unaudited)
($ in 000s, except strike prices)
Description | Expiration | Principal $ / Shares / Units | Fair Value $ | |||||||||||||||
Affiliated Investments at Fair Value 108.8% |
|
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Online Services and e-Commerce |
|
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Common shares - 108.8% |
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|||||||||||||||||
Alibaba Group Holding Limited (1)(2)(3)(4) |
|
283,315,416 | 46,679,048 | |||||||||||||||
Other common shares in affiliated investments at fair value 0.0% |
|
|||||||||||||||||
Gomaji Corp., Ltd. (3) |
|
3,443,942 | 3,006 | |||||||||||||||
Total Affiliated Investments at Fair Value (Cost $2,017,332) |
|
46,682,054 | ||||||||||||||||
Unaffiliated Investments at Fair Value 0.0% |
|
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Internet Software & Services |
|
|||||||||||||||||
Common shares - 0.0% |
|
|||||||||||||||||
SeatGeek, Inc. (1)(5) |
|
47,463 | 185 | |||||||||||||||
Total Common Shares (Cost $9) |
|
185 | ||||||||||||||||
Fixed Income Securities | Rate % (6) | Final Maturity (7) | Principal $ | Fair Value $ | ||||||||||||||
Money Market Funds 5.2% |
|
|||||||||||||||||
Fidelity Government Portfolio Class I |
|
1.92 | 934,272 | 934,272 | ||||||||||||||
Invesco Government and Agency Portfolio Institutional Class |
|
1.97 | 1,000,000 | 1,000,000 | ||||||||||||||
Invesco Government Treasury and Agency Portfolio Institutional Class |
|
1.97 | 294,348 | 294,348 | ||||||||||||||
JP Morgan U.S. Government Money Market Fund Capital Class |
|
1.94 | 7,009 | 7,009 | ||||||||||||||
Total Money Market Investments (Cost $2,235,629) |
|
2,235,629 | 2,235,629 | |||||||||||||||
Rate Type | Rate % (8) | Final Maturity | Principal $ | Fair Value $ | ||||||||||||||
Short Term |
||||||||||||||||||
Corporate Debt 1.1% |
||||||||||||||||||
Financial 0.5% |
||||||||||||||||||
Berkshire Hathaway Finance Corp. |
Floating | 3.02 (3 month LIBOR USD + 0.69) | 3/15/2019 | 5,102 | 5,117 | |||||||||||||
Branch Banking and Trust Co. |
Floating | 2.87 (3 month LIBOR USD + 0.53) | 5/1/2019 | 12,500 | 12,528 | |||||||||||||
Jackson National Life Global Funding |
Fixed | 1.88 | 10/15/2018 | 15,989 | 15,985 | |||||||||||||
National Rural Utilities Coop Finance Corp |
Fixed | 1.65 | 2/8/2019 | 275 | 274 | |||||||||||||
National Rural Utilities Coop Finance Corp |
Fixed | 10.38 | 11/1/2018 | 9,801 | 9,862 | |||||||||||||
National Rural Utilities Coop Finance Corp |
Floating | 2.54 (3 month LIBOR USD + 0.20) | 4/5/2019 | 14,952 | 14,962 | |||||||||||||
New York Life Global Funding |
Fixed | 1.55 | 11/2/2018 | 29,500 | 29,478 | |||||||||||||
Principal Life Global Funding II |
Fixed | 1.50 | 4/18/2019 | 3,870 | 3,846 | |||||||||||||
Principal Life Global Funding II |
Fixed | 2.25 | 10/15/2018 | 14,148 | 14,147 | |||||||||||||
Protective Life Global Funding |
Floating | 2.76 (3 month LIBOR USD + 0.42) | 3/29/2019 | 10,000 | 10,013 | |||||||||||||
U.S. Bancorp |
Fixed | 1.95 | 11/15/2018 | 28,000 | 27,983 | |||||||||||||
U.S. Bancorp |
Floating | 2.80 (3 month LIBOR USD + 0.49) | 11/15/2018 | 12,250 | 12,252 | |||||||||||||
USAA Capital Corp. |
Floating | 2.57 (3 month LIBOR USD + 0.23) | 2/1/2019 | 2,520 | 2,522 | |||||||||||||
Wells Fargo Bank N.A. |
Fixed | 1.80 | 11/28/2018 | 38,000 | 37,961 | |||||||||||||
Westpac Banking Corp |
Fixed | 1.95 | 11/23/2018 | 28,500 | 28,478 | |||||||||||||
Total |
225,407 | 225,408 |
2
Industrial 0.6% |
||||||||||||||||||
Altera Corp |
Fixed | 2.50 | 11/15/2018 | 4,500 | 4,501 | |||||||||||||
American Honda Finance Corp |
Fixed | 1.50 | 11/19/2018 | 19,500 | 19,473 | |||||||||||||
American Honda Finance Corp |
Fixed | 2.13 | 10/10/2018 | 20,000 | 19,997 | |||||||||||||
American Honda Finance Corp |
Floating | 2.60 (3 month LIBOR USD + 0.28) | 11/19/2018 | 11,172 | 11,176 | |||||||||||||
Apple Inc. |
Fixed | 1.70 | 2/22/2019 | 12,000 | 11,968 | |||||||||||||
Apple Inc. |
Floating | 3.13 (3 month LIBOR USD + 0.82) | 2/22/2019 | 7,000 | 7,023 | |||||||||||||
Caterpillar Financial Services Corp. |
Fixed | 1.80 | 11/13/2018 | 18,300 | 18,285 | |||||||||||||
Chevron Corp |
Fixed | 1.79 | 11/16/2018 | 7,000 | 6,995 | |||||||||||||
Cisco Systems Inc. |
Floating | 2.68 (3 month LIBOR USD + 0.34) | 9/20/2019 | 11,000 | 11,032 | |||||||||||||
John Deere Capital Corporation |
Fixed | 1.65 | 10/15/2018 | 7,394 | 7,392 | |||||||||||||
John Deere Capital Corporation |
Floating | 2.91 (3 month LIBOR USD + 0.57) | 1/8/2019 | 12,500 | 12,519 | |||||||||||||
Johnson & Johnson |
Floating | 2.59 (3 month LIBOR USD + 0.27) | 3/1/2019 | 2,339 | 2,342 | |||||||||||||
Microsoft Corp |
Fixed | 1.30 | 11/3/2018 | 32,582 | 32,545 | |||||||||||||
Oracle Corp |
Fixed | 2.38 | 1/15/2019 | 5,000 | 4,997 | |||||||||||||
Shell International Finance BV |
Fixed | 1.63 | 11/10/2018 | 4,000 | 3,996 | |||||||||||||
Shell International Finance BV |
Fixed | 2.00 | 11/15/2018 | 20,000 | 19,988 | |||||||||||||
Toyota Motor Credit Corporation |
Fixed | 2.00 | 10/24/2018 | 20,000 | 19,995 | |||||||||||||
Toyota Motor Credit Corporation |
Floating | 2.60 (3 month LIBOR USD + 0.26) | 1/9/2019 | 2,000 | 2,001 | |||||||||||||
Toyota Motor Credit Corporation |
Floating | 2.73 (3 month LIBOR USD + 0.39) | 1/17/2019 | 6,000 | 6,007 | |||||||||||||
Toyota Motor Credit Corporation |
Floating | 3.14 (3 month LIBOR USD + 0.82) | 2/19/2019 | 5,359 | 5,376 | |||||||||||||
Walt Disney Company |
Floating | 2.66 (3 month LIBOR USD + 0.32) | 1/8/2019 | 20,000 | 20,016 | |||||||||||||
Total |
247,646 | 247,624 | ||||||||||||||||
Total Corporate Debt (Cost $473,267) |
473,053 | 473,032 | ||||||||||||||||
Commercial Paper 15.0% | Rate % (9) | |||||||||||||||||
ABN Amro Funding USA LLC |
Zero Coupon | 2.27 | 11/26/2018 | 15,000 | 14,947 | |||||||||||||
ABN Amro Funding USA LLC |
Zero Coupon | 2.30 | 1/11/2019 | 35,000 | 34,774 | |||||||||||||
ABN Amro Funding USA LLC |
Zero Coupon | 2.44 | 2/25/2019 | 50,000 | 49,508 | |||||||||||||
Australia and New Zealand Banking Group Limited |
Zero Coupon | 2.25 | 1/10/2019 | 100,000 | 99,374 | |||||||||||||
Australia and New Zealand Banking Group Limited |
Zero Coupon | 2.25 | 1/11/2019 | 100,000 | 99,368 | |||||||||||||
BNZ International Funding Limited |
Zero Coupon | 2.27 | 11/13/2018 | 31,880 | 31,794 | |||||||||||||
BPCE |
Zero Coupon | 2.28 | 11/8/2018 | 60,000 | 59,857 | |||||||||||||
BPCE |
Zero Coupon | 2.26 | 11/30/2018 | 40,000 | 39,850 | |||||||||||||
BPCE |
Zero Coupon | 2.37 | 12/20/2018 | 100,000 | 99,478 | |||||||||||||
Caisse des Depots et Consignations |
Zero Coupon | 2.10 | 10/24/2018 | 75,000 | 74,900 | |||||||||||||
Caisse des Depots et Consignations |
Zero Coupon | 2.26 | 11/15/2018 | 58,418 | 58,254 | |||||||||||||
The Coca-Cola Company |
Zero Coupon | 2.10 | 10/30/2018 | 49,500 | 49,417 | |||||||||||||
The Coca-Cola Company |
Zero Coupon | 2.10 | 10/31/2018 | 70,000 | 69,878 | |||||||||||||
The Coca-Cola Company |
Zero Coupon | 2.12 | 11/13/2018 | 25,000 | 24,937 | |||||||||||||
The Coca-Cola Company |
Zero Coupon | 2.14 | 11/20/2018 | 125,000 | 124,630 | |||||||||||||
The Coca-Cola Company |
Zero Coupon | 2.19 | 12/3/2018 | 36,000 | 35,863 | |||||||||||||
The Coca-Cola Company |
Zero Coupon | 2.20 | 12/4/2018 | 65,000 | 64,748 | |||||||||||||
The Coca-Cola Company |
Zero Coupon | 2.35 | 1/11/2019 | 100,000 | 99,340 | |||||||||||||
Commonwealth Bank of Australia |
Zero Coupon | 2.20 | 11/16/2018 | 50,000 | 49,861 | |||||||||||||
Cummins Inc. |
Zero Coupon | 2.08 | 10/9/2018 | 20,000 | 19,991 | |||||||||||||
Cummins Inc. |
Zero Coupon | 2.08 | 10/11/2018 | 94,000 | 93,946 | |||||||||||||
Danske Corp |
Zero Coupon | 2.25 | 11/20/2018 | 75,000 | 74,768 | |||||||||||||
Danske Corp |
Zero Coupon | 2.25 | 11/26/2018 | 25,000 | 24,913 | |||||||||||||
Danske Corp |
Zero Coupon | 2.25 | 12/3/2018 | 25,000 | 24,902 | |||||||||||||
Danske Corp |
Zero Coupon | 2.30 | 1/11/2019 | 25,000 | 24,838 | |||||||||||||
John Deere Capital Corporation |
Zero Coupon | 2.02 | 10/10/2018 | 125,000 | 124,937 |
3
John Deere Capital Corporation |
Zero Coupon | 2.11 | 10/22/2018 | 75,000 | 74,908 | |||||||||||||
John Deere Capital Corporation |
Zero Coupon | 2.18 | 10/30/2018 | 75,000 | 74,869 | |||||||||||||
Exxon Mobil Corp |
Zero Coupon | | 10/1/2018 | 50,000 | 50,000 | |||||||||||||
Exxon Mobil Corp |
Zero Coupon | 1.98 | 10/3/2018 | 50,000 | 49,995 | |||||||||||||
Exxon Mobil Corp |
Zero Coupon | 2.04 | 10/10/2018 | 115,000 | 114,942 | |||||||||||||
Exxon Mobil Corp |
Zero Coupon | 2.01 | 10/16/2018 | 60,000 | 59,950 | |||||||||||||
Exxon Mobil Corp |
Zero Coupon | 2.00 | 10/22/2018 | 100,000 | 99,884 | |||||||||||||
Exxon Mobil Corp |
Zero Coupon | 2.08 | 11/30/2018 | 14,500 | 14,450 | |||||||||||||
Exxon Mobil Corp |
Zero Coupon | 2.03 | 12/5/2018 | 50,000 | 49,818 | |||||||||||||
Exxon Mobil Corp |
Zero Coupon | 2.18 | 12/11/2018 | 90,000 | 89,617 | |||||||||||||
Exxon Mobil Corp |
Zero Coupon | 2.22 | 12/12/2018 | 80,000 | 79,648 | |||||||||||||
Exxon Mobil Corp |
Zero Coupon | 2.18 | 12/17/2018 | 20,000 | 19,908 | |||||||||||||
Federation des Caisses Desjardins du Quebec |
Zero Coupon | 2.10 | 10/12/2018 | 32,750 | 32,729 | |||||||||||||
Federation des Caisses Desjardins du Quebec |
Zero Coupon | 2.29 | 12/12/2018 | 100,000 | 99,546 | |||||||||||||
General Dynamics Corp |
Zero Coupon | 2.04 | 10/16/2018 | 80,000 | 79,932 | |||||||||||||
General Dynamics Corp |
Zero Coupon | 2.08 | 10/23/2018 | 53,000 | 52,933 | |||||||||||||
Henkel US Operations Corp |
Zero Coupon | 2.22 | 11/15/2018 | 35,000 | 34,904 | |||||||||||||
Henkel US Operations Corp |
Zero Coupon | 2.26 | 12/10/2018 | 17,000 | 16,926 | |||||||||||||
KfW |
Zero Coupon | | 10/1/2018 | 30,000 | 30,000 | |||||||||||||
Koch Resources, LLC |
Zero Coupon | 2.08 | 10/12/2018 | 13,000 | 12,992 | |||||||||||||
Lloyds Bank PLC |
Zero Coupon | 2.24 | 11/26/2018 | 60,000 | 59,793 | |||||||||||||
Merck & Co., Inc. |
Zero Coupon | 1.98 | 10/10/2018 | 50,000 | 49,975 | |||||||||||||
National Australia Bank Limited |
Zero Coupon | 2.20 | 12/7/2018 | 50,000 | 49,797 | |||||||||||||
National Australia Bank Limited |
Zero Coupon | 2.15 | 12/10/2018 | 75,000 | 74,689 | |||||||||||||
National Australia Bank Limited |
Zero Coupon | 2.15 | 12/17/2018 | 75,000 | 74,657 | |||||||||||||
National Securities Clearing Corporation |
Zero Coupon | 2.09 | 11/2/2018 | 20,000 | 19,963 | |||||||||||||
National Securities Clearing Corporation |
Zero Coupon | 2.16 | 11/16/2018 | 30,000 | 29,918 | |||||||||||||
National Securities Clearing Corporation |
Zero Coupon | 2.16 | 11/20/2018 | 50,000 | 49,851 | |||||||||||||
National Securities Clearing Corporation |
Zero Coupon | 2.17 | 11/28/2018 | 20,000 | 19,931 | |||||||||||||
National Securities Clearing Corporation |
Zero Coupon | 2.17 | 11/30/2018 | 100,000 | 99,642 | |||||||||||||
National Securities Clearing Corporation |
Zero Coupon | 2.20 | 12/11/2018 | 30,000 | 29,871 | |||||||||||||
Nestle Capital Corp |
Zero Coupon | 2.20 | 11/13/2018 | 40,000 | 39,896 | |||||||||||||
Nestle Capital Corp |
Zero Coupon | 2.22 | 11/15/2018 | 30,000 | 29,917 | |||||||||||||
Nestle Capital Corp |
Zero Coupon | 2.19 | 11/30/2018 | 50,000 | 49,819 | |||||||||||||
Nestle Capital Corp |
Zero Coupon | 2.19 | 12/7/2018 | 80,000 | 79,677 | |||||||||||||
Nissan Motor Acceptance Corporation |
Zero Coupon | 2.14 | 11/2/2018 | 22,000 | 21,958 | |||||||||||||
Nissan Motor Acceptance Corporation |
Zero Coupon | 2.16 | 11/13/2018 | 18,000 | 17,954 | |||||||||||||
Nissan Motor Acceptance Corporation |
Zero Coupon | 2.21 | 12/6/2018 | 20,000 | 19,920 | |||||||||||||
Nissan Motor Acceptance Corporation |
Zero Coupon | 2.21 | 12/7/2018 | 60,000 | 59,755 | |||||||||||||
Nissan Motor Acceptance Corporation |
Zero Coupon | 2.28 | 1/11/2019 | 50,000 | 49,680 | |||||||||||||
Nissan Motor Acceptance Corporation |
Zero Coupon | 2.35 | 2/25/2019 | 50,000 | 49,524 | |||||||||||||
PSP Capital Inc. |
Zero Coupon | 2.17 | 11/27/2018 | 60,000 | 59,796 | |||||||||||||
PSP Capital Inc. |
Zero Coupon | 2.19 | 11/28/2018 | 50,000 | 49,825 | |||||||||||||
Paccar Financial Corp |
Zero Coupon | 2.07 | 10/12/2018 | 19,000 | 18,988 | |||||||||||||
The Procter & Gamble Company |
Zero Coupon | 2.22 | 12/10/2018 | 75,000 | 74,679 | |||||||||||||
The Procter & Gamble Company |
Zero Coupon | 2.22 | 12/12/2018 | 165,000 | 164,274 | |||||||||||||
The Procter & Gamble Company |
Zero Coupon | 2.22 | 12/13/2018 | 100,000 | 99,554 | |||||||||||||
Roche Holdings, Inc. |
Zero Coupon | 1.98 | 10/3/2018 | 20,000 | 19,998 | |||||||||||||
Santander UK PLC |
Zero Coupon | 2.24 | 11/30/2018 | 60,000 | 59,778 | |||||||||||||
Santander UK PLC |
Zero Coupon | 2.29 | 12/7/2018 | 60,000 | 59,746 | |||||||||||||
Simon Property Group, L.P. |
Zero Coupon | 2.03 | 10/10/2018 | 25,000 | 24,987 | |||||||||||||
Simon Property Group, L.P. |
Zero Coupon | 2.03 | 10/16/2018 | 30,000 | 29,975 | |||||||||||||
Simon Property Group, L.P. |
Zero Coupon | 2.09 | 10/22/2018 | 20,000 | 19,976 |
4
Simon Property Group, L.P. |
Zero Coupon | 2.14 | 11/26/2018 | 45,000 | 44,851 | |||||||||||||
Simon Property Group, L.P. |
Zero Coupon | 2.17 | 12/5/2018 | 80,000 | 79,689 | |||||||||||||
Skandinaviska Enskilda Banken AB |
Zero Coupon | 2.25 | 12/7/2018 | 60,000 | 59,751 | |||||||||||||
Societe Generale |
Zero Coupon | 2.30 | 12/7/2018 | 60,000 | 59,745 | |||||||||||||
Sumitomo Mitsui Banking Corp |
Zero Coupon | 2.07 | 10/22/2018 | 85,000 | 84,898 | |||||||||||||
Sumitomo Mitsui Banking Corp |
Zero Coupon | 2.26 | 11/14/2018 | 60,000 | 59,836 | |||||||||||||
Sumitomo Mitsui Banking Corp |
Zero Coupon | 2.27 | 11/27/2018 | 60,000 | 59,786 | |||||||||||||
Sumitomo Mitsui Banking Corp |
Zero Coupon | 2.26 | 12/10/2018 | 95,000 | 94,586 | |||||||||||||
Sumitomo Mitsui Banking Corp |
Zero Coupon | 2.21 | 12/17/2018 | 50,000 | 49,766 | |||||||||||||
Sumitomo Mitsui Banking Corp |
Zero Coupon | 2.28 | 1/11/2019 | 90,000 | 89,424 | |||||||||||||
Svenska Handelsbanken AB |
Zero Coupon | 2.25 | 12/7/2018 | 60,000 | 59,751 | |||||||||||||
Swedbank AB |
Zero Coupon | 2.23 | 11/30/2018 | 25,000 | 24,908 | |||||||||||||
Swedbank AB |
Zero Coupon | 2.25 | 12/5/2018 | 50,000 | 49,799 | |||||||||||||
Swedbank AB |
Zero Coupon | 2.27 | 12/6/2018 | 135,000 | 134,443 | |||||||||||||
Toronto-Dominion Bank |
Zero Coupon | 2.11 | 10/22/2018 | 45,000 | 44,945 | |||||||||||||
Toronto-Dominion Bank |
Zero Coupon | 2.22 | 11/29/2018 | 45,500 | 45,336 | |||||||||||||
Toronto-Dominion Bank |
Zero Coupon | 2.22 | 11/30/2018 | 75,000 | 74,725 | |||||||||||||
Toronto-Dominion Bank |
Zero Coupon | 2.24 | 12/7/2018 | 54,500 | 54,275 | |||||||||||||
Toronto-Dominion Bank |
Zero Coupon | 2.30 | 12/10/2018 | 55,000 | 54,756 | |||||||||||||
Toronto-Dominion Bank |
Zero Coupon | 2.21 | 12/17/2018 | 25,000 | 24,883 | |||||||||||||
Total Capital Canada Ltd. |
Zero Coupon | 2.14 | 11/1/2018 | 50,000 | 49,908 | |||||||||||||
Total Capital Canada Ltd. |
Zero Coupon | 2.18 | 11/6/2018 | 60,000 | 59,870 | |||||||||||||
Toyota Credit Canada Inc. |
Zero Coupon | 2.35 | 12/7/2018 | 50,000 | 49,783 | |||||||||||||
Toyota Industries Commercial Finance, Inc. |
Zero Coupon | 2.06 | 10/9/2018 | 20,000 | 19,991 | |||||||||||||
Toyota Industries Commercial Finance, Inc. |
Zero Coupon | 2.21 | 11/15/2018 | 35,000 | 34,904 | |||||||||||||
Toyota Motor Credit Corporation |
Zero Coupon | 2.11 | 11/1/2018 | 38,000 | 37,931 | |||||||||||||
Unilever Capital Corporation |
Zero Coupon | 2.03 | 10/23/2018 | 30,000 | 29,963 | |||||||||||||
United Parcel Service, Inc. |
Zero Coupon | 1.99 | 10/4/2018 | 50,000 | 49,992 | |||||||||||||
United Parcel Service, Inc. |
Zero Coupon | 1.99 | 10/5/2018 | 50,000 | 49,989 | |||||||||||||
Walmart Inc. |
Zero Coupon | 2.00 | 10/9/2018 | 50,000 | 49,978 | |||||||||||||
Walmart Inc. |
Zero Coupon | 2.00 | 10/10/2018 | 143,000 | 142,929 | |||||||||||||
Walmart Inc. |
Zero Coupon | 2.18 | 10/29/2018 | 135,000 | 134,772 | |||||||||||||
Walmart Inc. |
Zero Coupon | 2.13 | 10/31/2018 | 90,000 | 89,841 | |||||||||||||
Total Commercial Paper (Cost $6,414,768) |
6,435,048 | 6,414,791 | ||||||||||||||||
Certificates of Deposits 1.3% | Rate % (8) | |||||||||||||||||
Bank of Montreal |
Fixed | 2.15 | 11/1/2018 | 50,000 | 50,000 | |||||||||||||
Bank of Montreal |
Fixed | 2.30 | 12/20/2018 | 75,000 | 75,000 | |||||||||||||
Bank of Montreal |
Fixed | 2.34 | 1/11/2019 | 62,500 | 62,500 | |||||||||||||
Bank of Montreal |
Fixed | 2.14 | 12/7/2018 | 60,000 | 60,000 | |||||||||||||
Bank of Montreal |
Fixed | 2.35 | 1/4/2019 | 60,000 | 60,000 | |||||||||||||
BNP Paribas |
Fixed | 2.23 | 12/14/2018 | 75,000 | 75,000 | |||||||||||||
BNP Paribas |
Fixed | 2.25 | 12/20/2018 | 75,000 | 75,000 | |||||||||||||
BNP Paribas |
Fixed | 2.25 | 12/13/2018 | 100,000 | 100,000 | |||||||||||||
Total Certificates of Deposits (Cost $557,500) |
557,500 | 557,500 | ||||||||||||||||
Agency Bonds 0.0% |
||||||||||||||||||
Federal Home Loan Mortgage Corp |
Fixed | 2.31 | 1/25/2019 | 20,000 | 19,938 | |||||||||||||
Total Agency Bonds (Cost $20,000) |
20,000 | 19,938 |
5
Agency Notes5.4% | Rate % (9) | |||||||||||||||||||||
Federal Home Loan Banks |
Zero Coupon | 0.88 | 10/3/2018 | 17,975 | 17,973 | |||||||||||||||||
Federal Home Loan Banks |
Zero Coupon | 1.25 | 10/5/2018 | 4,275 | 4,274 | |||||||||||||||||
Federal Home Loan Banks |
Zero Coupon | 1.70 | 10/12/2018 | 41,710 | 41,683 | |||||||||||||||||
Federal Home Loan Banks |
Zero Coupon | 1.81 | 10/17/2018 | 145,000 | 144,864 | |||||||||||||||||
Federal Home Loan Banks |
Zero Coupon | 1.95 | 10/29/2018 | 50,000 | 49,917 | |||||||||||||||||
Federal Home Loan Banks |
Zero Coupon | 2.07 | 11/23/2018 | 300,000 | 299,049 | |||||||||||||||||
Federal Home Loan Banks |
Zero Coupon | 2.13 | 12/7/2018 | 950,000 | 946,143 | |||||||||||||||||
Federal Home Loan Banks |
Zero Coupon | 2.13 | 12/10/2018 | 100,000 | 99,576 | |||||||||||||||||
Federal Home Loan Banks |
Zero Coupon | 2.13 | 12/12/2018 | 115,000 | 114,499 | |||||||||||||||||
Federal Home Loan Mortgage Corp |
Zero Coupon | 2.12 | 12/5/2018 | 250,000 | 249,015 | |||||||||||||||||
Federal Home Loan Mortgage Corp |
Zero Coupon | 2.12 | 12/6/2018 | 340,000 | 338,640 | |||||||||||||||||
Total Agency Notes (Cost $2,306,085) |
2,313,960 | 2,305,633 | ||||||||||||||||||||
U.S. Government Debt 6.9% |
||||||||||||||||||||||
United States Treasury |
Zero Coupon | 2.07 | 12/6/2018 | 650,000 | 647,465 | |||||||||||||||||
United States Treasury |
Zero Coupon | 2.15 | 1/3/2019 | 175,000 | 174,008 | |||||||||||||||||
United States Treasury |
Zero Coupon | 2.29 | 2/28/2019 | 100,000 | 99,050 | |||||||||||||||||
United States Treasury |
Zero Coupon | 2.06 | 11/29/2018 | 180,000 | 179,374 | |||||||||||||||||
United States Treasury |
Zero Coupon | 2.08 | 12/13/2018 | 40,000 | 39,828 | |||||||||||||||||
United States Treasury |
Zero Coupon | 2.15 | 1/10/2019 | 200,000 | 198,780 | |||||||||||||||||
United States Treasury |
Fixed | 2.12 | 11/30/2018 | 135,000 | 134,796 | |||||||||||||||||
United States Treasury (4) |
Fixed | 1.50 | 12/31/2018 | 650,990 | 649,808 | |||||||||||||||||
United States Treasury |
Fixed | 2.12 | 11/30/2018 | 100,000 | 99,870 | |||||||||||||||||
United States Treasury |
Fixed | 1.94 | 10/31/2018 | 97,600 | 97,496 | |||||||||||||||||
United States Treasury (4) |
Fixed | 1.13 | 2/28/2019 | 655,864 | 652,585 | |||||||||||||||||
Total U.S. Government Debt (Cost $2,974,417) |
2,984,454 | 2,973,060 | ||||||||||||||||||||
Total Short Term Fixed Income Securities (Cost $12,746,037) 29.7% |
|
12,784,015 | 12,743,954 | |||||||||||||||||||
Long Term |
||||||||||||||||||||||
Corporate Debt 0.5% |
||||||||||||||||||||||
Financial 0.2% |
||||||||||||||||||||||
Berkshire Hathaway Finance Corp. |
Floating | 2.65 (3 month LIBOR USD + 0.32) | 1/10/2020 | 2,500 | 2,505 | |||||||||||||||||
Branch Banking and Trust Co. |
Floating | 2.79 (3 month LIBOR USD + 0.45) | 1/15/2020 | 4,000 | 4,015 | |||||||||||||||||
Mass Mutual Global Funding II |
Fixed | 1.95 | 9/22/2020 | 20,000 | 19,567 | |||||||||||||||||
Protective Life Global Funding |
Fixed | 2.16 | 9/25/2020 | 7,000 | 6,836 | |||||||||||||||||
U.S. Bank N.A |
Fixed | 2.05 | 10/23/2020 | 25,000 | 24,484 | |||||||||||||||||
Wells Fargo Bank N.A. |
Fixed | 2.60 | 1/15/2021 | 35,000 | 34,407 | |||||||||||||||||
Total |
93,500 | 91,814 |
6
Industrial 0.3% |
||||||||||||||||||||||
American Honda Finance Corp |
Fixed | 2.45 | 9/24/2020 | 20,000 | 19,768 | |||||||||||||||||
American Honda Finance Corp |
Fixed | 2.65 | 2/12/2021 | 12,500 | 12,353 | |||||||||||||||||
American Honda Finance Corp |
Floating | 2.55 (3 month LIBOR USD + 0.21) | 2/12/2021 | 12,500 | 12,501 | |||||||||||||||||
Apple Inc. |
Floating | 2.54 (3 month LIBOR USD + 0.20) | 2/7/2020 | 13,506 | 13,538 | |||||||||||||||||
Apple Inc. |
Floating | 2.41 (3 month LIBOR USD + 0.07) | 5/11/2020 | 7,000 | 7,002 | |||||||||||||||||
Chevron Corp |
Floating | 2.53 (3 month LIBOR USD + 0.21) | 3/3/2020 | 12,000 | 12,028 | |||||||||||||||||
Daimler Finance North America LLC |
Fixed | 2.30 | 1/6/2020 | 18,543 | 18,365 | |||||||||||||||||
Honeywell International Inc. |
Floating | 2.62 (3 month LIBOR USD + 0.28) | 10/30/2019 | 3,563 | 3,572 | |||||||||||||||||
Intel Corp |
Floating | 2.42 (3 month LIBOR USD + 0.08) | 5/11/2020 | 11,000 | 11,017 | |||||||||||||||||
John Deere Capital Corporation |
Floating | 2.63 (3 month LIBOR USD + 0.30) | 3/13/2020 | 8,140 | 8,159 | |||||||||||||||||
Siemens Financieringsmaatschappij N.V. |
Floating | 2.67 (3 month LIBOR USD + 0.34) | 3/16/2020 | 15,000 | 15,043 | |||||||||||||||||
Toyota Motor Credit Corporation |
Floating | 2.60 (3 month LIBOR USD + 0.26) | 4/17/2020 | 12,000 | 12,020 | |||||||||||||||||
Total |
145,752 | 145,366 | ||||||||||||||||||||
Total Corporate Debt (Cost $238,297) |
239,252 | 237,180 | ||||||||||||||||||||
Total Long Term Fixed Income Securities (Cost $238,297) 0.5% |
239,252 | 237,180 |
Call Options (5)(10) | Counterparty | # of Contracts | Strike Price $ | Expiration | Notional Amount $ | Fair Value $ | ||||||||||||||||
Call Options 0.7% |
||||||||||||||||||||||
Altaba Inc. |
JP Morgan | 1 | 53.24 | 12/1/2018 | 456,851 | 102,048 | ||||||||||||||||
Altaba Inc. |
Goldman Sachs | 1 | 53.24 | 12/1/2018 | 456,851 | 102,048 | ||||||||||||||||
Altaba Inc. |
Citibank | 1 | 53.24 | 12/1/2018 | 171,298 | 38,263 | ||||||||||||||||
Altaba Inc. |
Morgan Stanley | 1 | 53.24 | 12/1/2018 | 171,298 | 38,263 | ||||||||||||||||
Total Call Options (Premiums Paid $140,502) |
|
1,256,298 | 280,622 | |||||||||||||||||||
Total Unaffiliated Investments (Cost $15,360,474) |
|
15,258,896 | 15,497,570 |
Investment in Controlled Affiliate | Units | Fair Value $ | ||||||||||||||||||||
Internet Software & Services |
||||||||||||||||||||||
Excalibur IP, LLC (1)(5) |
3,434 | 250,000 | ||||||||||||||||||||
Total Investment in Controlled Affiliate (Cost $0) 0.6% |
|
250,000 | ||||||||||||||||||||
|
|
|||||||||||||||||||||
Total Investments 145.5% |
|
62,429,624 | ||||||||||||||||||||
Liability for Convertible Notes (3.1)% |
|
(1,327,417 | ) | |||||||||||||||||||
Liability for Margin Loan Payable (7.2)% |
|
(3,081,088 | ) | |||||||||||||||||||
Other Liabilities/Other Assets (35.2)% |
|
(15,114,524 | ) | |||||||||||||||||||
|
|
|||||||||||||||||||||
Net Assets Applicable to Common Shares 100% |
|
$ | 42,906,595 | |||||||||||||||||||
|
|
7
(1) | Non-income producing securities. |
(2) | The Fund is a party to a registration rights agreement with respect to its Alibaba shares. The registration rights agreement contains certain provisions restricting the ability to sell the Alibaba shares in certain circumstances. As of September 30, 2018, some of the Funds Alibaba shares were held in the form of ordinary shares. The Alibaba ordinary shares would need to be converted to American Depository Shares prior to any sale on the New York Stock Exchange. For the further description of this investment, see the Funds Registration Statement on Form N-2. |
(3) | Restricted security. Resale is contigent on issuer consent, aggregate holdings equal 108.9% of the net assets of the Fund. |
(4) | All or a portion of this security has been pledged as collateral in connection with the Funds Margin Loan Agreement. As of September 30, 2018, the number of Alibaba shares pledged as collateral was 48,125,000 and the total value of securities pledged as collateral for the Margin Loan Agreement was $4.6 billion, as well as approximately $2 billion of cash and short term investments. |
(5) | Fair-value security. Represents fair value measured in good faith under procedures approved by the Board of Directors, aggregate holdings equal 1.2% of the net assets of the Fund. |
(6) | Presented rate represents the Money Market Funds average 7-day % yield. |
(7) | Money Market Funds do not have a set maturity date. |
(8) | Coupon rate %. |
(9) | Rate presented is yield as of September 30, 2018. |
(10) | American-style options. |
Written Warrants (1)(2)(3) | Weighted Average Strike Price $ |
Expiration(1) | # of Contracts | Fair Value $ | ||||||||||||
Total Value of Written Warrants (Premiums Received $91,510) |
68.57 | 3/1/19 - 5/24/19 | 4 | (124,300 | ) |
(1) | European style warrants. |
(2) | The initial strike price of the written warrants was $71.24. Counterparties to the written warrants may make adjustments to certain terms of the written warrants upon the occurrence of specified events, if the event results in a material change to the trading price of Altabas common stock or the value of the written warrants. The adjusted weighted average strike price of $68.57 was used in estimating the fair value of the written warrants as of September 30, 2018. Altaba and one Counterparty terminated the written warrant transaction between them in June 2018. |
(3) | Fair-value security. Represents fair value measured in good faith under procedures approved by the Board of Directors, aggregate holdings equal (0.3)% of the net assets of the Fund. |
At September 30, 2018, the tax cost basis of the Funds investments and derivatives was $18,916,585 and the unrealized appreciation and depreciation were $43,390,878 and ($2,139), respectively, with a net unrealized appreciation of $43,388,739.
8
Hierarchy of Fair Value Inputs
The Fund categorizes the inputs to valuation techniques used to value its investments into a disclosure hierarchy consisting of three levels as shown below:
Level 1Unadjusted quoted prices in active markets for identical assets or liabilities that the Fund has the ability to access.
Level 2Observable inputs other than quoted prices included in Level 1 that are observable for the asset or liability either directly or indirectly. These inputs may include quoted prices for the identical instrument on an inactive market, prices for similar instruments, interest rates, prepayment speeds, credit risk, yield curves, default rates, and similar data.
Level 3Unobservable inputs for the asset or liability to the extent that relevant observable inputs are not available, representing managements own assumptions about the assumptions that a market participant would use in valuing the asset or liability, and that would be based on the best information available.
The inputs used to measure fair value may fall into different levels of the fair value hierarchy. In such cases, for disclosure purposes, the level in the fair value hierarchy within which the fair value measurement falls in its entirety is determined based on the lowest level input that is significant to the fair value measurement in its entirety. The Fund intends to recognize transfers between Level 1, Level 2, and Level 3 as of the beginning of the reporting period.
The following table reflects the valuation level used in the consolidated schedule of investments as of September 30, 2018 for the Funds assets (in thousands):
Level 1 | Level 2 | Level 3 | Total | |||||||||||||
Affiliated investments |
$ | 46,682,054 | $ | | $ | | $ | 46,682,054 | ||||||||
Unaffiliated investments: |
||||||||||||||||
Common shares |
| | 185 | 185 | ||||||||||||
Money market funds |
2,235,629 | | | 2,235,629 | ||||||||||||
Fixed income securities: |
||||||||||||||||
Corporate debt |
| 710,212 | | 710,212 | ||||||||||||
Commercial paper |
| 6,414,791 | | 6,414,791 | ||||||||||||
Certificates of deposits |
| 557,500 | | 557,500 | ||||||||||||
Agency bonds |
| 19,938 | | 19,938 | ||||||||||||
Agency notes |
| 2,305,633 | | 2,305,633 | ||||||||||||
U.S. government debt |
| 2,973,060 | | 2,973,060 | ||||||||||||
Call options |
| | 280,622 | 280,622 | ||||||||||||
Investment in controlled affiliate: |
||||||||||||||||
Excalibur (1) |
| | 250,000 | 250,000 | ||||||||||||
|
|
|
|
|
|
|
|
|||||||||
Financial assets at fair value |
48,917,683 | 12,981,134 | 530,807 | 62,429,624 | ||||||||||||
Written warrants |
| | (124,300 | ) | (124,300 | ) | ||||||||||
|
|
|
|
|
|
|
|
|||||||||
Total financial assets and liabilities at fair value |
$ | 48,917,683 | $ | 12,981,134 | $ | 406,507 | $ | 62,305,324 | ||||||||
|
|
|
|
|
|
|
|
(1) | Excalibur assets relate to the Funds patent portfolio. |
9
The following is a reconciliation of investments for which significant unobservable inputs (Level 3) were used in determining fair value (in thousands):
Total Investments in Securities |
Affiliated Investments |
Unaffiliated Investments |
Call Options |
Investment in Controlled Affiliate |
Written Warrants |
|||||||||||||||||||
Balance as of January 1, 2018 |
$ | 967,575 | $ | 72,389 | $ | 10,355 | $ | 495,840 | $ | 665,000 | $ | (276,009 | ) | |||||||||||
Purchases |
82,435 | | | | | 82,435 | ||||||||||||||||||
Sales |
(153,963 | ) | | (5,422 | ) | (144,366 | ) | (4,175 | ) | | ||||||||||||||
Cost adjustment for Altaba tender offer |
(10,363 | ) | | | (10,363 | ) | | | ||||||||||||||||
Change in unrealized appreciation (depreciation) |
(442,740 | ) | | 3,830 | (150,014 | ) | (415,000 | ) | 118,444 | |||||||||||||||
Realized gain (loss) |
35,952 | | (8,578 | ) | 89,525 | 4,175 | (49,170 | ) | ||||||||||||||||
Transfers out of Level 3 |
(72,389 | ) | (72,389 | ) | | | | | ||||||||||||||||
|
|
|
|
|
|
|
|
|
|
|
|
|||||||||||||
Balance as of September 30, 2018 |
$ | 406,507 | $ | | $ | 185 | $ | 280,622 | $ | 250,000 | $ | (124,300 | ) | |||||||||||
|
|
|
|
|
|
|
|
|
|
|
|
The change in unrealized appreciation (depreciation) attributable to securities owned on September 30, 2018, which were valued using significant unobservable inputs (Level 3) amounted to $(442,740).
10
The fair values of Altabas Level 1 financial assets and liabilities are based on quoted prices in active markets for identical assets or liabilities that the Fund has the ability to access. The fair values of Altabas Level 2 financial assets and liabilities are obtained using quoted prices for similar assets or liabilities in active markets; quoted prices for identical or similar assets in markets that are not active; and inputs other than quoted prices (e.g., interest rates and yield curves). Altaba utilizes a pricing service to assist in obtaining fair value pricing for the marketable debt securities. The fair value for Altabas Level 3 financial assets were obtained using a variety of techniques including Black-Scholes models, transaction price and market approaches.
The balance for the Funds assets and liabilities measured at fair value on a recurring basis using significant unobservable inputs (Level 3) as of September 30, 2018 was $407 million, net.
Type of investment |
Fair Value at September 30, 2018 (in thousands) |
Valuation Technique |
Unobservable Inputs | |||||||
Unaffiliated investmentscommon shares |
$ | 185 | Transaction price | Price per share | $2.60 - $5.20 | |||||
Investment in controlled affiliateExcalibur |
$ | 250,000 | Market approach | Number of patents plus applications pending | 3,434 | |||||
Call options |
$ | 280,622 | Black Scholes Model | Expected dividend yield | 0.02% | |||||
Risk-free interest rate | 2.41% | |||||||||
Market Volatility | 34.48% | |||||||||
Expected life (in years) | 0.18 | |||||||||
Written warrants |
$ | (124,300 | ) | Black Scholes Model | Expected dividend yield | 0.02% | ||||
Risk-free interest rate | 2.57% | |||||||||
Market Volatility | 29.81% - 30.64% | |||||||||
Expected life (in years) | 0.54 |
Convertible Senior Notes
In 2013, Altaba issued $1.4375 billion aggregate principal amount of 0.00% Convertible Senior Notes due in 2018. The Convertible Notes are carried at their original issuance value, net of unamortized debt discount, and are not marked to market each period. The approximate estimated fair value of the Convertible Notes as of September 30, 2018 was approximately $1.3 billion. The estimated fair value of the Convertible Notes was determined on the basis of quoted market prices observable in the market, interest rate spreads, and time to maturity.
Through August 31, 2018, the aggregate principal amount of approximately $446 million of the Convertibles Notes have been submitted for early conversion. Upon early conversion of the Convertible Notes, holders will receive cash, shares of Altabas common stock, or a combination thereof, at Altabas election. Altaba has elected to settle all conversion requests received through August 31, 2018 in cash.
11
Margin Loan
On February 23, 2018, Altaba HK MC Limited (the Borrower) entered into a $3 billion margin loan agreement (the Margin Loan Agreement) with JPMorgan Chase Bank, N.A., London Branch (JPM) and Credit Suisse AG, Cayman Islands Branch (CS; and JPM and CS, collectively referred to, along with other financial institutions that may become party to the Margin Loan Agreement as lenders from time to time, the Lenders). Loans under the Margin Loan Agreement will bear interest at a variable rate of 3 Month LIBOR plus a margin of 2.25% and have a maturity date in February 2021.
Quantitative Disclosure of Derivative Holdings
The following tables show additional disclosures related to the Funds derivative and hedging activities, including how such activities are accounted for on the Funds financial positions. The Fund entered into several transactions to hedge the impact of dilution from potential exercise of the Convertible Notes. In conjunction with the hedge transactions, the Fund sold written warrants to reduce the overall cost of the hedge. These derivatives are not accounted for as hedging instruments.
There is no master netting arrangement policy on these derivatives.
Fair value of derivative instruments as of September 30, 2018 (in thousands):
Derivative Instruments |
Statement of Assets and Liabilities Location |
Call Spread | ||||
Call options |
Unaffiliated investments |
$ | 280,622 | |||
Written warrants |
Written warrants |
$ | (124,300 | ) |
The average quarterly fair value of purchased options during the period ended September 30, 2018 was $428 million.
The average quarterly fair value of written warrants during the period ended September 30, 2018 was $238 million.
The realized gain (loss) and change in unrealized appreciation (depreciation) on derivatives recognized on the consolidated statement of operations for the period ended September 30, 2018 are as follows (in thousands):
Amount of realized gain (loss) on derivatives recognized as a result of operations:
Call Options | Written Warrants | Total | ||||||||||
Equity contracts |
$ | 89,525 | $ | (49,170 | ) | $ | 40,355 | |||||
|
|
|
|
|
|
|||||||
Total |
$ | 89,525 | $ | (49,170 | ) | $ | 40,355 | |||||
|
|
|
|
|
|
Change in unrealized appreciation (depreciation) on derivatives recognized as a result of operations:
Call Options | Written Warrants | Total | ||||||||||
Equity contracts |
$ | (150,014 | ) | $ | 118,444 | $ | (31,570 | ) | ||||
|
|
|
|
|
|
|||||||
Total |
$ | (150,014 | ) | $ | 118,444 | $ | (31,570 | ) | ||||
|
|
|
|
|
|
12
Investments in Affiliates(1)
If the Funds holding represents ownership of 5% or more of voting securities of a company, the company is deemed to be an affiliate as defined in the 1940 Act. The Fund had the following transactions during the period ended September 30, 2018 in securities of affiliated companies:
Alibaba Group Holding Limited |
Yahoo Japan Corporation |
Gomaji Corp., Ltd. |
Hortonworks, Inc. - Common Shares |
Hortonworks, Inc. - Common Warrants |
Hortonworks, Inc. - Series A Stock Warrants |
|||||||||||||||||||
Balance of shares held at January 1, 2018 |
383,565,416 | 2,025,923,000 | 3,589,942 | 3,845,806 | 476,368 | 3,250,000 | ||||||||||||||||||
Purchases |
| | | | | | ||||||||||||||||||
Sales |
(100,250,000 | ) | (2,025,923,000 | ) | (146,000 | ) | (7,572,174 | ) | | | ||||||||||||||
Shares converted related to the Altaba tender offer |
| | | 3,726,368 | (476,368 | ) | (3,250,000 | ) | ||||||||||||||||
Balance of shares held at September 30, 2018 |
283,315,416 | | 3,443,942 | | | | ||||||||||||||||||
Fair value as of September 30, 2018(2) |
$ | 46,679,048 | $ | | $ | 3,006 | $ | | $ | | $ | | ||||||||||||
Change in unrealized appreciation (depreciation)(2) |
$ | (18,756,856 | ) | $ | (6,413,480 | ) | $ | (1,346 | ) | $ | (123,483 | ) | $ | | $ | | ||||||||
Distributions(2)(3) |
$ | | $ | 167,989 | $ | 114 | $ | | $ | | $ | | ||||||||||||
Net realized gain (loss)(2) |
$ | 17,110,386 | $ | 3,572,387 | $ | (123 | ) | $ | 113,800 | $ | | $ | |
Excalibur IP, LLC |
||||
Balance of patents held and applications pending at January 1, 2018 |
3,587 | |||
Change in patents held |
(153 | ) | ||
Balance of patents held and applications pending at September 30, 2018 |
3,434 | |||
Fair value as of September 30, 2018(2) |
$ | 250,000 | ||
Change in unrealized appreciation (depreciation)(2) |
$ | (415,000 | ) | |
Distributions(2) |
$ | | ||
Net realized gain (loss)(2) |
$ | 4,175 |
(1) | Affiliated issuer, as defined in the Investment Company Act of 1940 (the 1940 Act). |
(2) | In thousands. |
(3) | Gross dividend. |
13
Item 2. | Controls and Procedures. |
(a) | The Registrants Chief Executive Officer and Chief Financial and Accounting Officer have concluded that the Registrants disclosure controls and procedures (as defined in Rule 30a-3(c) under the 1940 Act) (17 CFR 270.30a-3(c)) are effective as of a date within 90 days of the filing date of the report that includes the disclosure required by this paragraph, based on the evaluation of these controls and procedures required by Rule 30a-3(b) under the 1940 Act (17 CFR 270.30a-3(b)) and Rule 13a-15(b) or Rule 15d-15(b) under the Securities Exchange Act of 1934, as amended (17 CFR 240.13a-15(b) or 240.15d-15(d)). |
(b) | There were no changes in the Registrants internal control over financial reporting (as defined in Rule 30a-3(d) under the 1940 Act) (17 CFR 270.30a-3(d)) that occurred during the Registrants last fiscal quarter that have materially affected, or are reasonably likely to materially affect, the Registrants internal control over financial reporting. |
Item 3. | Exhibits. |
Separate certifications for each principal executive officer and principal financial officer of the Registrant as required by Rule 30a-2(a) under the 1940 Act (17 CFR 270.30a-2(a)). Filed herewith.
14
SIGNATURES
Pursuant to the requirements of the Securities Exchange Act of 1934 and the Investment Company Act of 1940, the registrant has duly caused this report to be signed on its behalf by the undersigned, thereunto duly authorized.
(Registrant): | Altaba Inc. | |
By (Signature and Title): | /s/ Thomas J. McInerney | |
Thomas J. McInerney, Chief Executive Officer | ||
Date: | October 31, 2018 |
Pursuant to the requirements of the Securities Exchange Act of 1934 and the Investment Company Act of 1940, this report has been signed below by the following persons on behalf of the registrant and in the capacities and on the dates indicated.
By (Signature and Title): | /s/ Thomas J. McInerney | |
Thomas J. McInerney, Chief Executive Officer | ||
Date: | October 31, 2018 | |
By (Signature and Title): | /s/ Alexi A. Wellman | |
Alexi A. Wellman, Chief Financial and Accounting Officer | ||
Date: | October 31, 2018 |
15
Exhibit 99.CERT
CERTIFICATIONS
I, Thomas J. McInerney, certify that:
1. | I have reviewed this report on Form N-Q of Altaba Inc.; |
2. | Based on my knowledge, this report does not contain any untrue statement of a material fact or omit to state a material fact necessary to make the statements made, in light of the circumstances under which such statements were made, not misleading with respect to the period covered by this report; |
3. | Based on my knowledge, the schedules of investments included in this report fairly present in all material respects the investments of the registrant as of the end of the fiscal quarter for which the report is filed; |
4. | The registrants other certifying officer(s) and I are responsible for establishing and maintaining disclosure controls and procedures (as defined in Rule 30a-3(c) under the Investment Company Act of 1940) and internal control over financial reporting (as defined in Rule 30a-3(d) under the Investment Company Act of 1940) for the registrant and have: |
(a) | Designed such disclosure controls and procedures, or caused such disclosure controls and procedures to be designed under our supervision, to ensure that material information relating to the registrant, including its consolidated subsidiaries, is made known to us by others within those entities, particularly during the period in which this report is being prepared; |
(b) | Designed such internal control over financial reporting, or caused such internal control over financial reporting to be designed under our supervision, to provide reasonable assurance regarding the reliability of financial reporting and the preparation of financial statements for external purposes in accordance with generally accepted accounting principles; |
(c) | Evaluated the effectiveness of the registrants disclosure controls and procedures and presented in this report our conclusions about the effectiveness of the disclosure controls and procedures, as of a date within 90 days prior to the filing date of this report, based on such evaluation; |
(d) | Disclosed in this report any change in the registrants internal control over financial reporting that occurred during the registrants most recent fiscal quarter that has materially affected, or is reasonably likely to materially affect, the registrants internal control over financial reporting; and |
5. | The registrants other certifying officer(s) and I have disclosed to the registrants auditors and the audit committee of the registrants board of directors (or persons performing the equivalent functions): |
(a) | All significant deficiencies and material weaknesses in the design or operation of internal control over financial reporting which are reasonably likely to adversely affect the registrants ability to record, process, summarize, and report financial information; and |
(b) | Any fraud, whether or not material, that involves management or other employees who have a significant role in the registrants internal control over financial reporting. |
Date: October 31, 2018 | /s/ Thomas J. McInerney | |||||
Thomas J. McInerney | ||||||
Chief Executive Officer |
CERTIFICATIONS
I, Alexi A. Wellman, certify that:
1. | I have reviewed this report on Form N-Q of Altaba Inc.; |
2. | Based on my knowledge, this report does not contain any untrue statement of a material fact or omit to state a material fact necessary to make the statements made, in light of the circumstances under which such statements were made, not misleading with respect to the period covered by this report; |
3. | Based on my knowledge, the schedules of investments included in this report fairly present in all material respects the investments of the registrant as of the end of the fiscal quarter for which the report is filed; |
4. | The registrants other certifying officer(s) and I are responsible for establishing and maintaining disclosure controls and procedures (as defined in Rule 30a-3(c) under the Investment Company Act of 1940) and internal control over financial reporting (as defined in Rule 30a-3(d) under the Investment Company Act of 1940) for the registrant and have: |
(a) | Designed such disclosure controls and procedures, or caused such disclosure controls and procedures to be designed under our supervision, to ensure that material information relating to the registrant, including its consolidated subsidiaries, is made known to us by others within those entities, particularly during the period in which this report is being prepared; |
(b) | Designed such internal control over financial reporting, or caused such internal control over financial reporting to be designed under our supervision, to provide reasonable assurance regarding the reliability of financial reporting and the preparation of financial statements for external purposes in accordance with generally accepted accounting principles; |
(c) | Evaluated the effectiveness of the registrants disclosure controls and procedures and presented in this report our conclusions about the effectiveness of the disclosure controls and procedures, as of a date within 90 days prior to the filing date of this report, based on such evaluation; |
(d) | Disclosed in this report any change in the registrants internal control over financial reporting that occurred during the registrants most recent fiscal quarter that has materially affected, or is reasonably likely to materially affect, the registrants internal control over financial reporting; and |
5. | The registrants other certifying officer(s) and I have disclosed to the registrants auditors and the audit committee of the registrants board of directors (or persons performing the equivalent functions): |
(a) | All significant deficiencies and material weaknesses in the design or operation of internal control over financial reporting which are reasonably likely to adversely affect the registrants ability to record, process, summarize, and report financial information; and |
(b) | Any fraud, whether or not material, that involves management or other employees who have a significant role in the registrants internal control over financial reporting. |
Date: October 31, 2018 | /s/ Alexi A. Wellman | |||||
Alexi A. Wellman | ||||||
Chief Financial and Accounting Officer |